24 October, 2018
Atlanta, GA – Rhodes Risk Advisors, an Atlanta based commercial property and casualty insurance brokerage, closed Q3 of 2018 with numerous new client additions across the entirety of its industry specializations. Furthermore, during what became a volatile weather season with two noteworthy hurricanes, Rhodes displayed the full scope of their claims resources. Not only advocating and walking clients through the claims process once started but taking a preemptive approach ahead of the storms to prepare clients for the most efficient claims resolutions. “We were very pleased to increase our new client base and further entrench ourselves within our specializations in the 3rd quarter. In addition, we take great pride in being able to display our true value and resource capabilities during what can be potentially trying times for our clients when they face major weather events such as Florence and Michael. This reflects the entirety of the risk management plan we put in place outside of the standard insurance transaction.” commented Mike Davis, President of Rhodes Risk Advisors.
Highlights from the Third Quarter of 2018 Include:
Multifamily & Real Estate
Rhodes successfully placed insurance for a portfolio acquisition of 680 units and over $70M of total insurable value (TIV) in Charleston, SC. This stretched across multiple properties and saw favorable rating and coverage implementation despite volatility in the coastal property insurance market.
Another portfolio program was placed for a new client consisting of three separate multifamily properties in the metro Atlanta area representing Lawrenceville, Marietta, and an intown location. Rhodes was able to provide premium savings compared with current placement on this 225 unit, $18M+ TIV, non-sprinklered portfolio.
Construction & Builders Risk
Placed all lines of coverage for a new Inc. 5000 contractor providing pavement maintenance services including paving and repair, sealcoating, markings, crack sealing, and curbing. Their services span across the Southeast and encompass commercial, educational, healthcare, hospitality, multifamily, and retail / restaurant projects. Through knowledge of the marketplace, Rhodes implemented an effective risk management program with a new carrier to alleviate coverage and service concerns voiced by the client.
Due to their deep knowledge in the construction / development arena and extensive program access, Rhodes saw multiple new Builders Risk placements within their Construction practice:
Builders Risk program was implemented for a second phase $40M frame project with 200+ units and 5,000 SF of retail in Chamblee, GA.
An additional Builders Risk program was finalized for a $35M frame project consisting of 345 garden style units in Durham, NC.
Builders Risk coverage was also placed for a current client’s 3rd phase of a multifamily development in metro Atlanta consisting of 110 units and $20M of construction costs.
Aviation coverage was placed for a new aviation client making their first aircraft purchase, a Gulfstream GIVSP. Rhodes was instrumental in not only implementing an aviation risk management program that allowed for a pilot structure that fit their desires, but also educating the client through the acquisition process to create a seamless transaction.
Another multi-aircraft program was placed for a real estate development company based in Missouri. Rhodes first procured the insurance of their current mid-sized jet aircraft, and orchestrated the addition of their second jet aircraft, a new purchase, into their program. Rhodes used marketplace knowledge and underwriting leverage to allow flexibility within their operating and pilot structures.
Film & Entertainment
A Worker’s Compensation program solution was implemented for a New York based media production payroll company. This company provides a premier media production platform that allows its film production clients to connect, collaborate, and pay within the entertainment industry.
Additionally, Rhodes placed all lines of insurance for a full-service event production and creative content solutions company based in Atlanta. Their services include the entirety of event production such as lighting, staging, presentation, and personnel solutions.
About Rhodes Risk Advisors: Rhodes Risk Advisors exists to protect their clients using the most innovative and comprehensive risk management solutions allowing them to focus on the continued success of their business. Based in Atlanta, GA, Rhodes provides property and casualty insurance brokerage and consulting services to middle market businesses. Rhodes specializes in providing unique and comprehensive insurance solutions to the Real Estate, Non-Profit, Construction, Film and Entertainment, Technology, Hospitality, Aviation, and Professional and Financial Service industries.